14. Peter purchased a deferred annuity with a typical surrender charge provision. The charge is 7 percent in the first contract year and declines by 1 percent each year to 0 percent at the end of the seventh contract year. If he fully surrenders his annuity during contract year 4 when his accumulated value is $100,000, and he has a $10,000 gain on the contract, what will his surrender charge be? a. $400 b. $3,200 OC. $3,600 O d. $4,000